Dublin, Sept. 25, 2024 (GLOBE NEWSWIRE) -- The "Artificial Intelligence (AI) in Medical Writing Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
The artificial intelligence (AI) in medical writing market size has grown rapidly in recent years. It will grow from $0.79 billion in 2023 to $0.91 billion in 2024 at a compound annual growth rate (CAGR) of 15.2%. The artificial intelligence (AI) in medical writing market size is expected to see rapid growth in the next few years. It will grow to $1.62 billion in 2028 at a compound annual growth rate (CAGR) of 15.3%.
The growth during the historic period was driven by increased outsourcing to contract research organizations, higher costs associated with medical writing, impacts from trade agreements and government policies, greater complexity in regulatory approval processes, and heightened demand for precise and dependable medical content. 
Anticipated growth in the forecast period stems from a favorable environment for clinical studies, expanding adoption of telemedicine and remote healthcare services, enhanced digital infrastructure, rising recognition of AI's potential benefits in healthcare, and escalating demand for accurate and reliable medical content. Key trends expected in this period include advancements in natural language processing (NLP) and machine learning algorithms, increased adoption of machine learning (ML), the proliferation of digital health services, integration with emerging technologies, and advancements in clinical decision support systems.
The anticipated rise in demand for new pharmaceutical drugs and therapies is expected to drive growth in the medical writing market through the integration of artificial intelligence (AI). This growth is fueled by ongoing efforts to address unmet medical needs, combat drug resistance, and enhance patient outcomes with more innovative treatments.
AI applications in medical writing within pharmaceutical and drug production sectors promise increased efficiency, accuracy, and innovation, contributing to the development of safer and more effective therapies for various medical conditions. For instance, as reported in June 2023 by the European Federation of Pharmaceutical Industries and Associations (EFPIA), pharmaceutical production in Europe reached $384.2 billion (€340,000 million) in 2022, marking a 4.95% increase from €323.95 billion in 2021. This surge in pharmaceutical demand underscores the role of AI in driving growth within the medical writing market.
Leading companies in the AI medical writing sector are focusing on integrating advanced features, such as AI-powered drafting, to optimize efficiency and precision in document creation and management for regulatory submissions and medical communications. AI-powered drafting leverages machine learning and natural language processing algorithms to automate initial document drafts or outlines, significantly streamlining content creation tasks.
For instance, TrialAssure, a US-based pharmaceutical technology provider, launched TrialAssure LINK AI 2 in June 2024. This upgraded platform enables pharmaceutical and biotechnology firms, clinical research organizations, and service providers to efficiently generate a wide range of regulatory and medical writing documents using AI. The solution automates document creation from initial drafting through to final approval stages, enhancing the overall authoring process.
In March 2024, Indegene Limited, a US-based company specializing in life sciences commercialization, acquired Trilogy Writing & Consulting GmbH for an undisclosed sum. This acquisition bolstered Indegene's capabilities in clinical and regulatory writing for global market authorization applications. Additionally, the acquisition deepened Indegene's commitment to content automation, particularly leveraging generative AI, to enhance outcomes for clients in clinical, regulatory writing, and related services. Trilogy Writing & Consulting GmbH, headquartered in Germany, provides medical writing and regulatory documentation services utilizing AI-based tools.
North America was the largest region in the artificial intelligence (AI) in medical writing market in 2023. The regions covered in the artificial intelligence (AI) in medical writing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the artificial intelligence (AI) in medical writing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Competitive Landscape and Company Profiles
- International Business Machines Corporation
- Overview
- Products and Services
- Strategy
- Financial Performance
- IQVIA Holdings Inc.
- Icon PLC
- Syneos Health Pvt Ltd
- Parexel International Corporation
Other Major and Innovative Companies
- Veeva Systems
- Cactus Communications
- Tata Elxsi
- Allucent Inc
- Certara Inc
- Freyr Solutions
- Amplity Health
- Indegen Limited
- MMS Holdings Inc.
- Jasper AI Inc
- Symbiance AI Inc
- GenInvo Technologies Pvt. Ltd.
- Trilogy Writing & Consulting GmbH
- Yseop S.a.S.
- Turacoz Healthcare Solution
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 175 |
| Forecast Period | 2024 - 2028 |
| Estimated Market Value (USD) in 2024 | $0.91 Billion |
| Forecasted Market Value (USD) by 2028 | $1.62 Billion |
| Compound Annual Growth Rate | 15.3% |
| Regions Covered | Global |
Key Topics Covered:
1. Executive Summary
2. Artificial Intelligence (AI) in Medical Writing Market Characteristics
3. Artificial Intelligence (AI) in Medical Writing Market Trends and Strategies
4. Artificial Intelligence (AI) in Medical Writing Market - Macro Economic Scenario
4.1. Impact of High Inflation on the Market
4.2. Ukraine-Russia War Impact on the Market
4.3. COVID-19 Impact on the Market
5. Global Artificial Intelligence (AI) in Medical Writing Market Size and Growth
5.1. Global Artificial Intelligence (AI) in Medical Writing Market Drivers and Restraints
5.1.1. Drivers of the Market
5.1.2. Restraints of the Market
5.2. Global Artificial Intelligence (AI) in Medical Writing Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Artificial Intelligence (AI) in Medical Writing Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)
6. Artificial Intelligence (AI) in Medical Writing Market Segmentation
6.1. Global Artificial Intelligence (AI) in Medical Writing Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Clinical Writing
- Type Writing
- Scientific Writing
- Other Types
6.2. Global Artificial Intelligence (AI) in Medical Writing Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Regulatory Documentation
- Automated Literature Review
- Language Translation
- Pharmacovigilance
- Content Modularization
6.3. Global Artificial Intelligence (AI) in Medical Writing Market, Segmentation by End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Medical Devices
- Pharmaceutical
- Biotechnology
- Other End Users
7. Artificial Intelligence (AI) in Medical Writing Market Regional and Country Analysis
7.1. Global Artificial Intelligence (AI) in Medical Writing Market, Split by Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Artificial Intelligence (AI) in Medical Writing Market, Split by Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
For more information about this report visit https://www.researchandmarkets.com/r/6ixgz7
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